“I’ve missed more than 9000 shots in my career. I’ve lost almost 300 games. 26 times, I’ve been trusted to take the game-winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.” – Michael Jordan
Photo Credit: clutchpoints.com
Lesson #1: Scared Money Never Wins. Scared Players Never Make The Shot.
Fear of Losing Money Holds You Back. Michael Jordan missed more than 9000 shots in his career and lost almost 300 games. He missed 26 game winning shots but that never stopped him from persisting and coming back up.
Whatever happens in the game has happened in the practices. It is not new. It is ROUTINE. You don’t win a championship with one shot. Neither do you win championships in a single game. So it does with trading and investing. Making one shot is just making a good trade. Consistently making good shots and sharpening yourself to be a better field goal trader and shooter is what makes your team and yourself a champion.
In the 1997 NBA Finals, Steve Kerr was ready to take the shot. He was ready. Watch the documentary. Michael Jordan and Steve Kerr knew that if they were going to double team MJ that Steve would be open and he had to be ready to win the championship. Without him, the Chicago Bulls would not have won the 1997 NBA Finals. Steve Kerr wasn’t initially the great player that he became. He grew to become one of the best shooters in the NBA on all-time stats. Take a look at all the field goals of the most iconic players that ever played the game of basketball. People know Michael Jordan but he had an outstanding supporting cast who became greater because he helped push them to expand and grow to their potential.
Wikipedia Stats of Steve Kerr:
Stephen Douglas Kerr (born September 27, 1965) is an American professional basketball coach and former player who is the head coach of the Golden State Warriors of the National Basketball Association (NBA).[1] He is an eight-time NBA champion, having won five titles as a player (three with the Chicago Bulls and two with the San Antonio Spurs) as well as three with the Warriors as a head coach. Kerr has the highest career three-point percentage (45.4%) in NBA history for any player with at least 250 three-pointers made. He also held the NBA record for highest three-point percentage in a season at 52.4% until the record was broken by Kyle Korver in 2010.
From a 3 point field goal percentage, you have to appreciate that Steve Kerr had more consistency than Jordan and Kobe and higher than Stephen Curry.
Lesson 2: Who’s in your Starting Five Lineup?
Jerry Krause, is painted as a villain at times in the docuseries but you cannot argue he assembled the best team ever. Was he the greatest manager of his time? Yes. He got the greatest player in the game, Michael Jordan from North Carolina. He got the greatest coach in the game Phil Jackson before the world knew. He got hall of famers and arguably the top 2 player of the game Scottie Pippen. He got Dennis Rodman, another hall of famer Top 50 best players in the league and best defender. He had Luc Longley, Toni Kukoc, Steve Kerr, and Bill Wennington.
The Chicago Bulls he assembled in the 1990s came from nowhere to being the greatest dynasties in the NBA, winning six NBA Championships from 1991-1998 with two three-peats. The Bulls was the only NBA franchise to win multiple championships while never losing an NBA Finals series in their history. In fact, during the 1995-96 NBA season, Bulls won 72 games in a single season setting records only to be broken after the Golden State Warriors 20 years later during the 2015-2016 NBA season broke it thru 73 games.
Do you realize the greatness of that team? Do you realize how many all-time highs and multiple potential baggers and cash flows? Would you have wanted to be the Jerry Krause who created this Starting Five Lineup? That’s enviable. Obviously, you need multiple guys who do a great job and, once you have it, you don’t rebuild the team and destroy a franchise that has won you several championships. How many great companies went from 1 to 100 or 1000 that you’ve sold too early?
I’ll name you my own examples. Tencent is very memorable to me because at the end of the day, this was a pick of mine ever since I laid my eyes studying on Tencent even during 2008. This was something I convinced even my boss at that time to purchase for a multi-decade bagger. WeChat is now 9 years old. January 21, 2011: Tencent Debuted Messaging App.
If interested, I wrote about these 10X opportunities in the last decade in this article I’ve written in my personal blog. At the end of the day. Tencent continues to make all-time highs and has gone a long way from a gaming company to the largest technology conglomerate in China but also arguably the world’s most valuable companies. For more info, read this article: More than 10X Opportunities In the Last Decade & 10X Trends in the Next Ten Years
Lesson # 3: Winners Win. The Key to Wealth Creation is Holding Winners.
I studied winners in the markets. I studied the “Michael Jordans” of the market and what I’ve learned is that age doesn’t derail their greatness. I followed their blueprints and following one winner helped me find more winners. Consider the fact that $AMZN went from 1 to 2500 in 23 years. Shopify went from 18 to 800 in 5 years. Neither of these ecommerce companies have stopped ratcheting all time highs and this is true for all of them whether $MELI, $OCDO, $SE, $PDD, $BABA, $JD, $ETSY. Their legacies have not been damaged and the worst thing a trader can do is to decide to trade their GOATs. Why do you want to rebuild your winning franchise if it’s performing so well? Why do you sell your strongest winners? I’ll show charts just to blow your mind and I hope you’ll join us explore greatness not just in players, companies and the names you want to own in this world.
Strive for Greatness.
Contributor:
Name: Nikki Yu
Investagrams Username: @facelesstrader
Channels:
Twitter: @facelesstrader
Spotify: Facelesstrader
Website: www.awesome10X.com
Facebook: www.facebook.com/FacelesstraderPH
Medium: medium.com/@nikkiyu
Youtube: Awesome10X
About the Contributor:
Nikki Yu holds a Chartered Market Technician (CMT) designation, is Philippine Chapter Chair and has been working in the financial industry for over a decade. Prior jobs include equity research assistant, private bank marketing assistant, equity trader and broker. She is currently a financial advisor to clients in Wealth Securities Inc. and lives in Manila Philippines. She enjoys teaching about the markets and holds workshops teaching individuals how to create their long term nest eggs. Her medium profile www.medium.com/@nikkiyu. Her Spotify channel is Faceless Trader. Twitter is @facelesstrader. She teaches people how to globally invest in 10X trends via www.awesome10X.com. Subscribe to her free daily and weekly videos through Youtube: Awesome10X.
